Quarterly report pursuant to Section 13 or 15(d)

10. DERIVATIVE FINANCIAL INSTRUMENTS and FAIR VALUE MEASUREMENTS (Details 2)

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10. DERIVATIVE FINANCIAL INSTRUMENTS and FAIR VALUE MEASUREMENTS (Details 2) (USD $)
6 Months Ended
Dec. 31, 2013
Derivative Financial Instruments And Fair Value Measurements Details 2  
Balance at June 30, 2013 $ 0
Initial fair value recording of warrant derivative liability as debt discount 144,241
Effects of foreign currency exchange rate changes (12,316)
Initial fair value of warrant derivative liability included in statements of operations 259,251
Change in fair value included in statements of operations (227,617)
Balance at December 31, 2013 $ 163,559